Answer:
$48,200
Explanation:
Given:
Selling price of home = $140,000
Acquisition price = $45,000
Closing cost = $2,000
Cost of fireplace and family room = $35,000
Real estate commission = 0.07 × 140,000 = $9,800
Total adjusted basis  = 45,000 + 2,000 + 35,000 + 9,800
                                    = $91,800
Taxable gain = Selling price - adjusted basis
                       = 140,000 - 91,800
                       = $48,200
 
        
             
        
        
        
Answer:
3. net income is understated by $175
Explanation:
There were two transactions omitted. The first transaction is unearned rent revenue of which $450 was earned. This earned rent revenue increases income by $450. While the second transaction was accrued interest payable of which $275 is owed. This interest payable increases liabilities by $275. 
Therefore, from the above, income or revenue is understated by $450, while expenses is understated by $275. 
Therefore, net income is understated by income less expenses, thus 450 - 275 = $175. This also implies that liabilities are overstated by $175. 
 
        
             
        
        
        
Answer:
a. True
Explanation:
DOT stands for the Dictionary of Occupational Titles. It is the publication which was produced by the Department of Labor of the United States of America for the working people that helped the employers, the government officials, and the other workforce development professionals in order to define over  different types of work from
 different types of work from  to the late
 to the late  s.
s.
But now, due to the advancement in technologies and change in the nature of job of many works the previous publication was replaced by the new Occupational Information Network which suits with todays technology and development in the working conditions. It is shortly known as the O*NET. 
Hence the answer is TRUE.